Owners, partners or shareholders
Open Accounts and owners to manage the business details and accounting records in these cards.
The card name follows your business type. Profit is split by ownership shares for each K-1, and money taken out is tracked in each owner’s accounts. A sole proprietor or single-member LLC has one owner.
Correct a share or record a change
- Fix % corrects a share that was typed wrong.
- Ownership changed records an actual change during the year, weighted by days.
Use the action that describes what happened so the ownership history reflects it.